Strategize: Product Strategy and Product Roadmap Practices for the Digital Age

by Roman Pichler

Track the Product Performance with a Product Scorecard Once you have selected the right KPIs for your product, you should collect the relevant data and regularly analyze it. A product scorecard or dashboard can help you with this. I like to work with a balanced product scorecard that considers the four perspectives listed in Table 4: financial, customer, product and process, and people. This ensures that you take a holistic approach to determining the product performance, and it reduces the risk of overlooking important trends. Figure 13 shows a balanced product scorecard. FIGURE 13: Balanced Product Scorecard The scorecard in Figure 13 is inspired by the work of Norton and Kaplan (1996) on balanced scorecards, which are a business-performance management tool. It states the business goals at the top and the four perspectives underneath. As mentioned in the last section, you should be clear on the business goals your product serves. Prioritize them and ensure that they are measurable. Select only relevant indicators that will help you determine if you are meeting the business goals. If you find the product scorecard in Figure 13 helpful, then download it from my website, where you can find more information about the tool.19